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Multilateralism is in crisis today and the failure of the global architecture of governance is affecting developing countries the most, Prime Minister Narendra Modi said on Thursday in his address to the first foreign ministers’ meeting of G20 nations in 2023. “The architecture of global governance created after the Second World War was to serve two functions: First, to […]
which coordinate the preparation and management of the financial crisis between the Central […]
The International Monetary Fund (IMF) on Tuesday said Sri Lanka had secured financing assurances from all its major bilateral creditors, paving the way for the IMF board to consider approval of a long-awaited $2.9 billion four-year bailout.The post IMF board poised to approve $2.9 billion Sri Lanka bailout appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
Sri Lanka's central bank raised interest rates in an unexpected move on Friday in a bid to help the country secure a bailout package from the International Monetary Fund (IMF) to stabilise its crisis-hit economy.The post Sri Lanka unexpectedly raises rates to fulfil IMF bailout requirements appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
[…]The post IMF’s Prescription: Panacea Or Palliative? appeared first on Colombo Telegraph.
Sri Lanka's key inflation rate eased to 50.6% in February from 51.7% in January, the statistics department said on Tuesday, as food prices eased.The post Sri Lanka’s key inflation rate eases to 50.6% in February appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
[…]The post Why Should We Beg IMF? – When More Than $36 Billion To Be Recovered appeared first on Colombo Telegraph.
The International Finance Corporation (IFC), the World Bank’s investment arm, said it will provide Sri Lanka with a $400 million cross-currency swap facility to help fund essential imports.The post World Bank’s IFC to provide Sri Lanka with $400 million financing appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
Islamabad , February 20 (ANI): The experience of Chinese companies working on the ground in Pakistan has been far from pleasant. Most of the early China – Pakistan Economic Corridor investments were in the power sector. The investments, however, created sizeable liabilities on the future cash flows of these projects, Indo Pacific Centre for Strategic […]
[…]The post Sri Lanka’s Asian Heritage appeared first on Colombo Telegraph.
Facing a dire national financial crisis and an urgent need to generate foreign currency income, state-owned SriLankan Airlines (SL) is restructuring and expanding its network to markets that were strong in the pre-Covid period, including Australia, and China.
Sri Lanka is tangled in the worst financial crisis in over seven decades, triggered by a severe shortage of foreign exchange that forced the country to annouce a suspension of foreign debt repayments in April 2022.
Sri Lanka is tangled in the worst financial crisis in over seven decades, triggered by a severe shortage of foreign exchange that forced the country to annouce a suspension of foreign debt repayments in April 2022.The post Sri Lanka to make $2.6 billion in loan repayments in first half
By Maleeha Lodhi PAKISTAN’S bane has long been a narrow, oligarchic power elite that has dominated its politics and controlled its economy at the cost of people’s welfare and the country’s progress and development. Its entrenched position over decades meant that governance challenges multiplied with force and intensity, leaving the country with daunting problems of […]
Excerpted from volume ii of Sarath Amunugama autobiography I was lucky both as Permanent Secretary and a researcher in the field of family planning to spend time in the east coast which is one of the loveliest parts of Sri Lanka, with its pristine beaches and a large swath of blue sea. The Information department […]
[…]The post Warning Signal To RW’s Transformation Agenda appeared first on Colombo Telegraph.
Colombo [Sri Lanka], February 2 (ANI): External Affairs Minister S Jaishankar’s visit to Sri Lanka is being seen as a harbinger of positive developments and an improved economic and financial situation for the island nation. Jaishankar during his visit to Sri Lanka reasserted India’s pursuit of the ‘Neighbourhood First’ policy and the belief in not […]
Samagi Jana Balawegaya (SJB) MP Eran Wickramaratne has stated that Sri Lanka s financial crisis cannot be addressed merely by revenue raising measures, without the implementation of cost cutting and efficiency increasing measures.
In an unprecedented turn of events, Pakistan’s close allies Saudi Arabia and the UAE have asked Islamabad to forget the Kashmir issue as the country is embroiled in other complex issues that need to be resolved. “Don’t cry for Kashmir” were the innuendos used by the Middle Eastern leaders when Pakistan Prime Minister Shabazz Sharif […]
[…]The post Mahinda Rajapaksa, Ministers, Tri-Services/Police, Corporates Owe Massive Amount In Electricity Bill Payments, RTI Disclosures Show appeared first on Colombo Telegraph.
China’s government on Friday confirmed it is offering Sri Lanka a two-year moratorium on loan repayments as the Indian Ocean island nation struggles to restructure $51 billion in foreign debt that pushed it into a financial crisis.The post China confirms two-year debt moratorium offer for Sri Lanka appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
Sri Lanka’s international bondholders group was prepared to engage with the island nation’s authorities in debt restructuring talks consistent with the parameters of the IMF Programme, their legal adviser, White & Case LLP, said.The post Sri Lanka bondholders ready for debt restructuring talks with authorities appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News...
Sri Lanka's key inflation rate eased to 54.2% in January from 57.2% in December, the country's statistics department said on Tuesday.The post Sri Lanka’s key inflation rate eases to 54.2% in January appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
China’s efforts to gain the space it lost in Sri Lanka to India have hit yet another stumbling block after it vehemently opposed the invitation to Tibetan Buddhist spiritual guru Dalai Lama. Sri Lanka is a Buddhist-majority country and China’s record of treatment of religious minorities especially Tibetan Buddhists has not been good. China’s image […]
The International Monetary Fund (IMF) is still awaiting assurances on Sri Lanka in order to present a Fund-supported program for Sri Lanka to the IMF’s Executive Board, for approval. The IMF confirmed that India has committed to help ease the debt burden of its crisis-stricken neighbor Sri Lanka as part of a possible International Monetary […]
India has committed to help ease the debt burden of its crisis-stricken neighbor Sri Lanka as part of a possible International Monetary Fund-supported program, the IMF said on Monday.The post India commits to help Sri Lanka on debt in prospective IMF program appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
The International Monetary Fund wants Sri Lanka to provide more relief to the poor and vulnerable people during the financial crisis in order to secure IMF board approval for financial assistance. State Minister of Finance Shehan Semasinghe said that providing relief to the poor is an essential
India’s External Affairs Minister S. Jaishankar on Thursday met Sri Lanka's top leadership and conveyed India's commitment to increase investment flows to hasten the debt-ridden island nation's economic recovery.The post Jaishankar conveys India’s commitment to increase investment flows to Sri Lanka to hasten economic recovery appeared first on Sri Lanka News - Latest Breaking News in Sri La...
India's foreign minister arrives in Colombo on Thursday following his country's backing of Sri Lanka for a $2.9 billion International Monetary Fund (IMF) loan, leaving China as the island's last remaining major creditor to agree to a debt restructuring plan.The post India foreign minister visits Sri Lanka with stronger ties, China in focus appeared first on Sri Lanka News - Latest Breaking News in...
India has told the International Monetary Fund that it strongly supports Sri Lanka's debt restructuring plan as the island nation seeks a $2.9 billion loan from the global lender, according to a letter seen by Reuters.The post India ‘strongly supports’ Sri Lanka debt restructuring plan, it tells IMF appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.